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Holy Grails | February 24th, 2009

A chart to consider:

Yes, as the article says, “That’s right. In the past ten years, for the largest 10 mutual funds, our society has spent $21 billion to watch stocks go up and down.”

These same mutual funds have also spent millions to lobby DC for years to keep alternative strategies such as trend following away from the average investor.

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http://michaelcovel.com Michael Covel

Full article (PDF)
Daniel

Amazingly, I see nobody whining about terribly high fees in mutual funds (considering the terrible risk adjusted returns they deliver) — but so many whining about profit based 1/20 in CTA/managed futures funds. Funny, isn’t it?
Andy

wow!
Andrew

of course, because the govnt already regulates mutual funds, they want to regulat hedge funds as well!
C,J,

Reinforces my opinion:::::only dumbasses have mutual funds.
http://michailcovel.com paul austin

Fidelity and its counterparts actually tell people they “manage” our money. Obviously the don’t read research, follow market trends BUT certainly do the accounting and deducting of fees well. Perhaps they should change businesses and become accounting and fee collection firms.
http://dailycrux jack

Mutual funds can be a profitable investment or an unprofitable investment, their performance relies mostly on overall stock market performance and of manangers who try and beat the market averages. Some mangers succeed in this and others do not. My experience from doing research(’90s) in this area, showed that loaded funds out-performed free funds. My last mutual fund investment was in ’99 and the manager of Janus Global Technology returned a gain of 215.5% to his investors. I have continued to profit every year by puchasing individual stocks at bargain prices.
http://michaelcovel.com Michael Covel

Jack, Janus Global Technology? I don’t think so:

http://finance.yahoo.com/q/pm?s=JAGTX

Surrounding their one lucky year, which happened to be the year before the bubble burst where everything went up, is not much there there.
Ross

Mutual funds are the individual’s attempt to deal with ignorance….and if you are ignorant, the casino known as wall street does not know you as an investor – it calls you sucker.

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Books & Film by Michael Covel

- Trend Commandments Aggressive-take-no-prisoners trend following manifesto. Buy & holders might weep.
  
  Purchase | Reviews
- Trend Following Classic trend following bestseller with 100,000+ sold & now in 10+ languages.
  
  Purchase | Reviews
- The Complete TurtleTrader Nurture trumps nature in Wall Street's greatest rags to riches trading story. Bestseller #2.
  
  Purchase | Reviews
- The Little Book of Trading Behind the scenes part narrative & part interview in the spirit of Market Wizards.
  
  Purchase | Reviews
- Broke: The New American Dream Covel's directorial debut: trend following meets the financial crisis. Winners tell how (DVD).
  
  Purchase | Reviews

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Michael Covel serves as president of Trend Following™, a privately owned research firm. His trend following books include The Little Book of Trading (2011), Trend Commandments (2011), The Complete TurtleTrader (2009, 2007; bestseller), and the classic Trend Following (2009, 2007, 2005, 2004; bestseller). Covel's books have been translated into 10+ languages. His first film, a documentary, is Broke: The New American Dream (2009). Learn why.

Books & Film by Michael Covel

- Trend Commandments Aggressive-take-no-prisoners trend following manifesto. Buy & holders might weep.
  
  Purchase | Reviews
- Trend Following Classic trend following bestseller with 100,000+ sold & now in 10+ languages.
  
  Purchase | Reviews
- The Complete TurtleTrader Nurture trumps nature in Wall Street's greatest rags to riches trading story. Bestseller #2.
  
  Purchase | Reviews
- The Little Book of Trading Behind the scenes part narrative & part interview in the spirit of Market Wizards.
  
  Purchase | Reviews
- Broke: The New American Dream Covel's directorial debut: trend following meets the financial crisis. Winners tell how (DVD).
  
  Purchase | Reviews